Instagram’s time-lapse video app, “Hyperlapse,” could be a valuable asset for real estate agents by giving them the ability to make high-quality property tours and neighborhood videos on the fly.

That’s according to members of real estate’s tech-savvy elite, including Better Homes and Gardens Real Estate President and CEO Sherry Chris, Curaytor co-founder and prominent real estate speaker Chris Smith, and Tom Flanagan, vice president of technology for Alain Pinel Realtors.

The free app’s image-stabilization technology helps users make smooth and steady time-lapse videos — a cinematic effect that until now has been difficult and expensive for amateurs to achieve. Hyperlapse, which launched today, is currently available only for Apple mobile devices.

Hyperlapse videos can be set to play back up to 12 times faster than real time, and shared on Instagram and Facebook. The new app doesn’t require an Instagram account.

Hyperlapse could help agents portray a neighborhood or street “in a very cool, interesting and distinct manner to capture the attention of the consumer to want to learn more,” Chris told Inman News.

Chris tweeted about the app soon after news of its launch broke this morning.

“I think being able to capture hyperlocal footage is something companies like Zillow and Trulia likely won’t do,” Smith said. “Time lapse has always been great b-roll for movies, music videos and TV shows. I think it can work just as well when doing a neighborhood video or even a home tour as an agent or brokerage.”

Flanagan, who downloaded the app and played with it this morning, tempered his enthusiasm somewhat by stressing that the quality of video created by users of the app will be crucial in determining whether it catches on in real estate.

“The stabilization technology is quite impressive, and put in the right hands, unique content can certainly be created,” Flanagan said. “In terms of real estate, I’m sure there will be agents experimenting with home tours, community videos and time lapses. However, quality will be key.”

If it takes off with brokers and agents, Hyperlapse could join the video boom currently taking place in real estate.

This year, a host of real estate tech firms like VScreen, Realbiz Media Group and Onvedeo have emerged to give brokerages and agents tools to create videos for their listings automatically. Seattle-based brokerage Redfin has paired automatic listing videos with all of its listings since 2012. Other real estate firms, like Homes.com, are following suit.